Germany on Friday welcomed President Joe Biden’s apparent willingness to discuss changing US law that European leaders say unfairly discriminates against their industries.
Biden acknowledged Thursday during a visit to Washington by French President Emmanuel Macron that there were “flaws” in the Inflation Reduction Act, which favors American-made climate technology for products such as electric vehicles.
“There are adjustments we can make” to satisfy allies, he said.
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The European Union and senior officials in some of its 27 member nations have expressed concern that the tax credits in the law would hurt manufacturers in Europe and violate World Trade Organization rules.
President Joe Biden listens as French President Emmanuel Macron speaks during a state dinner on the South Lawn of the White House in Washington, December 1, 2022. Biden delivered a speech saying America is open to modify the legislation on European trade. .
(AP Photo/Andrew Harnik)
“It is appreciated that President Biden has said that he is taking seriously the concerns that exist in Europe and is ready to once again think about the construction of this Inflation Reduction Act,” the spokesman told reporters in Berlin. of the German government, Wolfgang Buechner.
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Germany also wants to once again look at the possibility of forging a treaty between the EU and the United States to eliminate industrial tariffs, according to Buechner.
“After all, such an agreement would certainly be better than a bidding competition over protective tariffs and subsidies, which some see coming as a result of the US Inflation Reduction Act,” he said.
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German lawmakers on Thursday approved a free trade deal between the European Union and Canada that will eliminate almost all customs tariffs and increase quotas for certain key products in their respective markets when it comes into full effect.
